Garlic Prices Shoot Up 40% on High Seasonal Demand

In the last three months, Garlic prices have jumped by 40% on robust seasonal demand and reports of lower production.

According to data by National Horticulture Board (NHB), in the wholesale markets garlic price shooting up to Rs 82 a kg in the wholesale markets as compared to Rs 59 a kg in September.

In retail markets, garlic was quoted at Rs 147 a kg as compared to Rs 100 a kg in previous month. The sudden jump has worried many customers as retail demand increases during the winter season.

Director of National Horticulture Research and Development Foundation (NHRDF), RP Gupta said, “The major reason for increase in garlic prices was the crop damage by unseasonal rainfalls during the crop maturing period last year. As a consequence, the overall output is estimated to decline this year.”

Traders estimate 10-15% garlic crop damage this year due to unseasonal rainfalls and hailstorms on a regular basis in major producing centres. But, NHB has not yet factored in the crop damage.

Source: http://www.business-standard.com/